The wave of industrial mergers and acquisitions has swept across the country. On June 30, two major LED listed companies in Taiwan announced the merger and acquisition plan at the same time: Jingyuan Optoelectronics merged and absorbed Yuyuan Optoelectronics in the form of share swap, and Yuyuan Optoelectronics became a wholly-owned subsidiary of Jingyuan Optoelectronics.
Judging from the information disclosed in the relevant announcements, Sanan Optoelectronics, the largest shareholder of Yanyuan Optoelectronics, will be able to become the second largest shareholder of Jingyuan Optoelectronics through a share swap.
According to the announcements of Jingyuan Optoelectronics and Yuyuan Optoelectronics Co., Ltd., Yuyuan Optoelectronics will exchange 1.444 shares of common stock for one ordinary share issued by Jingyuan Optoelectronics. The stock conversion date is tentatively scheduled for December 30, 2014. Based on yesterday's Jingyuan Optoelectronics and Yuyuan Optoelectronics closing price, the conversion premium rate is about 17.6%. If all the shares of the original shareholder of Yuyuan Optoelectronics are completed, Jingyuan Optoelectronics will hold 100% equity of Haoyuan Optoelectronics.
It is worth noting that the first major shareholder of Yuyuan Optoelectronics was Sanan Optoelectronics. In November 2012, Xiamen Sanan Optoelectronics Technology Co., Ltd., a wholly-owned subsidiary of Sanan Optoelectronics Co., Ltd. announced that it would use self-raised funds of no more than RMB 2.352 billion to subscribe for no more than 120 million ordinary shares issued by Yanyuan Optoelectronics in private placement. Upon completion of the transaction, Xiamen Sanan will hold approximately 19.9% ​​of the shares of Yanyuan Optoelectronics and become the largest shareholder of Yanyuan Optoelectronics. On October 2, 2013, Xiamen Sanan subscribed for the registration of the shares of Yanyuan Optoelectronics. At present, Xiamen Sanan holds 120 million shares of Yanyuan Optoelectronics, accounting for 19.77% of the total share capital of Haoyuan Optoelectronics, and is the largest shareholder of Haoyuan Optoelectronics.
In this regard, the person in charge of Jingyuan Optoelectronics said that the shares held by Sanan Optoelectronics can be converted into ordinary shares of Jingyuan Optoelectronics or continue to hold the shares of Yuanyuan Optoelectronics Private Equity. If you choose to convert shares, the 120 million shares of Yanyuan Optoelectronics held by Sanan Optoelectronics [10.01% of the fund research report] will be exchanged for 34.810 million shares of Jingyuan Optoelectronics, which is expected to become the second largest shareholder of Jingyuan Optoelectronics.
Industry mergers and acquisitions have the effect of strong alliances. At present, Jingyuan Optoelectronics has 385 MOVCD devices (core chip production core equipment), and Yanyuan Optoelectronics has 103 units. Due to the expansion plan of Jingyuan Optoelectronics this year, it is expected to reach 500 units by the end of the year. As a result, the scale of Jingyuan Optoelectronics has further expanded, and it has also widened the distance from its peers. According to Sanan Optoelectronics' 2013 annual report, the company had 144 MOVCD devices by the end of 2013.
Judging from the information disclosed in the relevant announcements, Sanan Optoelectronics, the largest shareholder of Yanyuan Optoelectronics, will be able to become the second largest shareholder of Jingyuan Optoelectronics through a share swap.
According to the announcements of Jingyuan Optoelectronics and Yuyuan Optoelectronics Co., Ltd., Yuyuan Optoelectronics will exchange 1.444 shares of common stock for one ordinary share issued by Jingyuan Optoelectronics. The stock conversion date is tentatively scheduled for December 30, 2014. Based on yesterday's Jingyuan Optoelectronics and Yuyuan Optoelectronics closing price, the conversion premium rate is about 17.6%. If all the shares of the original shareholder of Yuyuan Optoelectronics are completed, Jingyuan Optoelectronics will hold 100% equity of Haoyuan Optoelectronics.
It is worth noting that the first major shareholder of Yuyuan Optoelectronics was Sanan Optoelectronics. In November 2012, Xiamen Sanan Optoelectronics Technology Co., Ltd., a wholly-owned subsidiary of Sanan Optoelectronics Co., Ltd. announced that it would use self-raised funds of no more than RMB 2.352 billion to subscribe for no more than 120 million ordinary shares issued by Yanyuan Optoelectronics in private placement. Upon completion of the transaction, Xiamen Sanan will hold approximately 19.9% ​​of the shares of Yanyuan Optoelectronics and become the largest shareholder of Yanyuan Optoelectronics. On October 2, 2013, Xiamen Sanan subscribed for the registration of the shares of Yanyuan Optoelectronics. At present, Xiamen Sanan holds 120 million shares of Yanyuan Optoelectronics, accounting for 19.77% of the total share capital of Haoyuan Optoelectronics, and is the largest shareholder of Haoyuan Optoelectronics.
In this regard, the person in charge of Jingyuan Optoelectronics said that the shares held by Sanan Optoelectronics can be converted into ordinary shares of Jingyuan Optoelectronics or continue to hold the shares of Yuanyuan Optoelectronics Private Equity. If you choose to convert shares, the 120 million shares of Yanyuan Optoelectronics held by Sanan Optoelectronics [10.01% of the fund research report] will be exchanged for 34.810 million shares of Jingyuan Optoelectronics, which is expected to become the second largest shareholder of Jingyuan Optoelectronics.
Industry mergers and acquisitions have the effect of strong alliances. At present, Jingyuan Optoelectronics has 385 MOVCD devices (core chip production core equipment), and Yanyuan Optoelectronics has 103 units. Due to the expansion plan of Jingyuan Optoelectronics this year, it is expected to reach 500 units by the end of the year. As a result, the scale of Jingyuan Optoelectronics has further expanded, and it has also widened the distance from its peers. According to Sanan Optoelectronics' 2013 annual report, the company had 144 MOVCD devices by the end of 2013.
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